The S&P/ASX 200 Index (ASX: XJO) is having a reasonably poor start to the week. In afternoon trade, the benchmark index is down 0.45% to 8,921.3 points.
Four ASX shares that are not letting that hold them back today are listed below. Here's why they are rising:
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Monash IVF Group Ltd (ASX: MVF)
The Monash IVF share price is up 14% to 75.7 cents. This morning, the fertility treatment company revealed that it has received a new non-binding takeover proposal from a consortium that includes Washington H. Soul Pattinson and Co Ltd (ASX: SOL). The consortium had previously offered 80 cents per share. This has now been increased to 90 cents per share and "represents the highest amount the Consortium is prepared to offer as its Offer Price, absent a competing proposal emerging for all or a material part of Monash IVF." The company advised that its board is assessing the proposal, including obtaining advice from its financial and legal advisers.
Pro Medicus Ltd (ASX: PME)
The Pro Medicus share price is up 5% to $133.14. This morning, the health imaging technology company announced that it has signed a five-year contract renewal with Northwestern Medicine. Importantly, the $37 million contract has increased minimums and an increased fee per transaction. Commenting on the deal, Pro Medicus' CEO, Dr Hupert, said: "We are extremely pleased that in addition to committing to a second five-year term at an increased fee per exam, NM have also committed to an increase in their minimums reflecting the growth in their exam volumes since standardising on our platform five years ago."
Telix Pharmaceuticals Ltd (ASX: TLX)
The Telix Pharmaceuticals share price is up 8% to $15.87. Investors have been buying the radiopharmaceuticals company's shares after it announced a major collaboration with US-based Regeneron Pharmaceuticals (NASDAQ: REGN). The company notes that there is potential to earn up to US$2.1 billion in development and commercial milestone payments plus low double-digit royalties if Telix opts out of co-funding any program. Telix's managing director and CEO, Christian Behrenbruch, said: "The collaboration with Regeneron reflects a highly complementary set of capabilities and a unique opportunity to explore what true 'next gen' biologics-based radiopharmaceuticals can potentially do for patients."
Woodside Energy Group Ltd (ASX: WDS)
The Woodside Energy share price is up almost 3% to $34.19. This energy giant's shares are rising today after oil prices jumped above US$100 a barrel. The catalyst for the jump was news that US President Donald Trump is threatening to blockade Iranian ports after initial peace talks between the two countries failed.
